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The Latest Breaking News from International Monetary Fund

China backs Sri Lanka's decision to work with IMF to restructure debt

China supports crisis-hit Sri Lanka's decision to work with the International Monetary Fund (IMF) to restructure its debt, Beijing's ambassador Qi Zhenhong told Sri Lankan Finance Minister Ali Sabry at a meeting on Monday.

Reuters

The global stagflation shock of 2022: How bad could it get?

The double blow of pandemic and war has caused inflation to surge and growth to slow around the world. But experts do not expect a return to the 1970s

Financial Times

UN chief calls for debt relief, post-COVID investment on W. Africa trip

U.N. Secretary-General Antonio Guterres on Sunday urged debt relief for African countries and more investment to help their economies recover from the COVID-19 pandemic and weather the impacts of the Ukraine war.

Reuters

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Amazon and Apple post downbeat results as inflation, supply issues bite

Amazon records its first quarterly loss since 2015 as online sales drop, while Apple warns of an $8 billion hit from the war in Ukraine and Covid-19 lockdowns in China. Also, French growth hits zero as consumer spending falls, and the IMF warns of dangers for the economies of sub-Saharan…

France 24

Pakistan has a ‘strategy’ to boost shrinking forex reserves: FM

With barely enough reserves to cover two months of imports, finance minister says it will not be the next Sri Lanka.

Al Jazeera

IMF's Georgieva tests positive for COVID-19, has mild symptoms

International Monetary Fund Managing Director Kristalina Georgieva has tested positive for COVID-19, the IMF said on Thursday, following marathon meetings last week with global finance leaders in Washington.

Reuters

Are freebies affecting the economic growth of India?

There are subsidies that are productive and then there are those that are wasteful

The Hindu

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IMF Asserts Private Sector's Role in Boosting Egypt’s Economy

The International Monetary Fund stressed the role of the private sector in boosting the Egyptian economy, currently facing ongoing challenges and difficulties. IMF Middle East and Central Asia Director Jihad Azour said in a press conference that the role of the private sector in Egypt is essential, and the state…

Asharq Al-Awsat

IMF Projects GCC Growth to Accelerate to 6.4%

The International Monetary Fund (IMF) said the Russian invasion of Ukraine is significantly affecting the growth prospects of the developing economies in the Middle East and North Africa (MENA), while oil-exporting countries benefit from higher crude prices. In its "Regional Economic Outlook: the Middle East and Central Asia," the IMF…

Asharq Al-Awsat

Colombo needs debt mechanism mini-miracle

When the economy is going well, the poor benefit more than others. But when things are going badly, it is the poor who are hurt the most. This is especially true in the case of the Covid-19 pandemic, which has hit poor countries -- and the poorest people within them…

Bangkok Post

Ukraine War to Curb Central Asian Economy, Oil Cushions Middle East, Says IMF

The war in Ukraine will sharply reduce economic growth in the Central Asian region in 2022, although higher oil prices will lessen the impact for the Middle East and North Africa, the International Monetary Fund said on Wednesday. Both regions will still feel the effect of surging commodity prices, and…

Asharq Al-Awsat

Parliament pushes for capital controls law as Lebanese protest

Protesters gather in front of the Lebanese parliament on a weekly basis as it moves to pass a capital controls law.

Al Jazeera

Boris Johnson branded the 'Comical Ali' of the cost of living crisis

The Prime Minister hit back at accusations that he has ignored the rising costs facing working families ahead of local council elections.

Daily Record

‘Ostrich’ Boris Johnson has head in sand over cost of living, claims Labour

The Prime Minister repeatedly claimed Labour has ‘no plan’ and defended his Government’s economic record during PMQs.

The Independent UK

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Daily Mirror

Keir Starmer brands Boris Johnson 'cost of living Comical Ali' in furious PMQs clash

Labour's leader accused the Prime Minister to Iraq's former information minister - made famous in a meme trying to play down the scale of the crisis facing his country

Benzinga

Oil Prices Stable Amid Balancing Act Of Russia Supply Fears and Asian Demand Concerns On COVID-19 Restrictions

On Wednesday, oil was steady after Russia cut gas supplies to Bulgaria and Poland. However, lingering concerns about Asian COVID-19 related lockdowns (especially in China) weigh on economic growth, and oil demand constrains the prices, writes Reuters. Brent crude futures rose $0.26, or 0.30%, to $105.25 a barrel by 0823 GMT. U.S.…

St. Louis Post-Dispatch

Editorial: Blaming Biden only goes so far in explaining current global inflation woes

A new International Monetary Fund report suggests that the economic hiccups roiling American politics are actually being felt worldwide and probably have little or nothing to do with President Joe Biden’s leadership. Biden certainly isn’t blameless for at least a portion of the nation’s current inflationary spiral, but the monetary…

Reuters

Sri Lanka says World Bank agrees to provide $600M in financial aid

The World Bank has agreed to provide Sri Lanka with $600 million in financial assistance to help meet payment requirements for essential imports, the Sri Lankan president's media division said in a statement on Tuesday.

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Asharq Al-Awsat

IMF Warns Asia Faces ‘Stagflationary’ Economic Outlook

The Asian region faces a "stagflationary" outlook, a senior International Monetary Fund (IMF) official warned on Tuesday, citing the Ukraine war, spike in commodity costs and a slowdown in China as creating significant uncertainty. While Asia's trade and financial exposures to Russia and Ukraine are limited, the region's economies will…

Asharq Al-Awsat

Russia Warns of WWIII ahead of Western Summit on Arms to Ukraine

Russia has warned of the "real" threat of World War III breaking out, ahead of a Tuesday meeting between the United States and allies over sending further arms to war-torn Ukraine. Moscow's invasion of its neighbor has triggered an outburst of support from Western nations that has seen weapons pour…

Reuters

IMF urges Sri Lanka to tighten monetary policy, raise tax to address debt woes

Sri Lanka must tighten monetary policy, raise tax and adopt flexible exchange rates to address its debt crisis, a senior International Monetary Fund (IMF) official said on Tuesday.

Bangkok Post

Global growth engines sputtering

The International Monetary Fund's revised World Economic Outlook (WEO) is sobering. It is rare for the organisation to revise down sharply its projections for economic growth just one quarter into the calendar year. Yet in this case, it has done so for 86% of its 190 member countries, resulting in…

Asharq Al-Awsat

Egypt Seeks Increasing Private Sector Participation in Economic Activities

Egypt has a new document for the state ownership policy, a national strategy aimed at maximizing the participation of the private sector in economic activity, announced Finance Minister Mohamed Maait. The Minister indicated that this "reassures" local investors, attracts foreign investments, and enhances the confidence of international institutions. Maait met…

Asharq Al-Awsat

Saudi Arabia Expects Stronger Growth in Non-Oil Sector

Saudi Minister of Finance Mohammed al-Jadaan said he is expecting stronger-than-expected growth this year in the non-oil sector underpinned by the structural reforms under Vision 2030. Jadaan asserted that the Kingdom remains committed to prudent policies to maintain monetary and financial stability and preserve a solid fiscal position while accelerating…

Reuters

World Bank readies Sri Lanka aid package, IMF calls loan talks 'fruitful'

The International Monetary Fund said on Saturday it held "fruitful technical discussions" with Sri Lanka on its loan request, while the World Bank said it was preparing an emergency aid package for the crisis-stricken country.

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